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KASHATO SHIRTS

WORKSHEET
October 31, 2015

NO.

ACCOUNT TITLE

100 Cash

UNADJUSTED
TRIAL BALANCE
DEBIT
CREDIT
854,252.66

ADJUSTMENTS
DEBIT
CREDIT

ADJUSTED
TRIAL BALANCE
DEBIT
CREDIT

22,400.00

876,652.66

101 Petty Cash

16,000.00

16,000.00

110 Notes Receivable

33,600.00

33,600.00

111 Interest Receivable


112 Accounts Receivable

0.00
188,160.00

113 Allowance for Uncollectible Accounts


120 Merchandise Inventory
130 Supplies
140 Prepaid Insurance

134.40

134.40
22,400.00

2,688.00

165,760.00

4,771.20

871,200.00

7,459.20
871,200.00

32,272.00

22,772.00

12,750.00

2,750.00

10,000.00

150,000.00

50,000.00

100,000.00

150 Furniture and Fixtures

676,000.00

152 Equipment
154 Service Vehicle

161 Utilities Deposit

74,250.00

7,056.00

134,500.00

12,250.00

81,306.00
735,000.00

410,000.00

155 Accum. Dep. - Service Vehicle


160 Rent Deposit

676,000.00

735,000.00

153 Accum. Dep. - Equipment

871,200.00

9,500.00

141 Prepaid Rent


151 Accum. Dep. - Furniture & Fixture

146,750.00
410,000.00

33,000.00

5,500.00

38,500.00

150,000.00

150,000.00

18,500.00

18,500.00

200 Notes Payable

0.00

201 Interest Payable

0.00

202 Accounts Payable

482,048.00

482,048.00

210 Salaries Payable


211 SSS and EC Contribution Payable

0.00

15,650.00

15,650.00

212 Philhealth Contribution Payable

0.00

5,175.00

5,175.00

213 PAG-IBIG Contribution Payable

0.00

1,800.00

1,800.00

214 Withholding Tax Payable

0.00

34,721.02

34,721.02

123,050.40

123,050.40

220 Rent Payable


221 Utilities Payable
230 Value Added Tax Payable

INCOME
STATEMENT
DEBIT

230-1 Input Vat

0.00

230-2 Output Vat

14,052.00

240 Voucher's Payable

662,444.42

300 Therese Ballada , Capital


301 Therese Ballada, Withdrawals
400 Sales

14,052.00
662,444.42

2,501,008.67

2,501,008.67

205,000.00

205,000.00
1,896,200.00

1,896,200.00

401 Sales Discounts

5,640.00

5,640.00

5,640.00

402 Sales Returns and Allowances

4,000.00

4,000.00

4,000.00

410 Interest Income


500 Purchases
501 Transportation IN

1,600.00

684,400.00

4,000.00

4,000.00

4,000.00

10,400.00

503 Purchases Returns and Allowances

10,000.00

602 Insurance Expense


603 Rent Expense
605 Repairs and maintenance Expense
610 Salaries Expense
611 SSS and EC Contribution Expense
612 Philhealth Contribution Expense
613 PaG-IBIG Contribution Expense

22,772.00

22,772.00

22,772.00

2,750.00

2,750.00

2,750.00

50,000.00

50,000.00

22,300.00

22,300.00

7,400.00

7,400.00

7,400.00

233,000.00

233,000.00

233,000.00

10,563.60

10,563.60

10,563.60

2,587.50

2,587.50

2,587.50

900.00

900.00

900.00

4,771.20

4,771.20

4,771.20

631 Dep. Exp. - Equipment


632 Dep. Exp - Service vehicle

TOTALS

8,000.00

50,000.00

630 Dep. Exp. - Furniture and Fixture

650 Interest Expense

10,000.00
8,000.00

22,300.00

620 Uncollectible Accounts Expense

640 Miscellaneous Expense

10,400.00

8,000.00

601 Supplies Expense

604 Utilities Expense

1,734.40
684,400.00

502 Purchases Discounts


600 Advertising Expense

134.40

684,400.00

7,056.00

7,056.00

7,056.00

12,250.00

12,250.00

12,250.00

5,500.00

5,500.00

5,500.00

784.00

784.00

784.00
3,833.33
5,340,143.09

3,833.33
5,340,143.09

NET INCOME

790,078.02

790,078.02

5,369,854.69

3,833.33
5,369,854.69

1,963,707.63
654,986.77

0.00

2,618,694.40

INCOME
STATEMENT
CREDIT

BALANCE SHEET
DEBIT

CREDIT

876,652.66
16,000.00
33,600.00
134.40
165,760.00
7,459.20
700,360.00

700,360.00
9,500.00
10,000.00
100,000.00
676,000.00
81,306.00
735,000.00
146,750.00
410,000.00
38,500.00
150,000.00
18,500.00

482,048.00
15,650.00
5,175.00
1,800.00
34,721.02

123,050.40

14,052.00
2,501,008.67
205,000.00
1,896,200.00

1,734.40

10,400.00
10,000.00

2,618,694.40

4,106,507.06

3,451,520.29
654,986.77

2,618,694.40

4,106,507.06

4,106,507.06

Kashato Shirt Company


Income Statement
For the Month Ended Oct. 31, 2015

Net Sales
Gross Sales
Sales Discounts

5,640.00

Sales Returns and Allowances

4,000.00

Less:
Net Sales
Cost of Goods Sold
Merchandise Iinventory 10/1/10

871,200.00

Add:Purchases

684,400.00

Purchases Discounts

10,400.00

Purchases Returns and Allowances

10,000.00

Less:
Add:Transportation IN

20,400.00
4,000.00

Available for Sale


Less:Merchandise Iinventory 10/31/10
Cost of Sales
Gross Profit
Operating Expenses
Selling Expenses
Advertising Expense
Supplies Expense
Insurance Expense

8,000.00
22,772.00
2,750.00

Total:Selling Expenses
Rent Expense

50,000.00

Utilities Expense

22,300.00

Repairs and maintenance Expense


Salaries Expense
SSS and EC Contribution Expense
Philhealth Contribution Expense
PaG-IBIG Contribution Expense

7,400.00
233,000.00
10,313.60
2,587.50
900.00

Uncollectible Accounts Expense

4,771.20

Dep. Exp. - Furniture and Fixture

7,056.00

Dep. Exp. - Equipment


Dep. Exp - Service vehicle
Miscellaneous Expense
Interest Expense
Total:Admistrative Expenses
Total:Operating Expense
Add: Interest Income

12,250.00
5,500.00
784.00
3,833.33

Profit

1, 2015

1,896,200.00

9,640.00
1,886,560.00

1,539,200.00
700,360.00
838,840.00

33,522.00

360,695.63
394,217.63
1,734.40

655,236.77

Kashato Shirt Company


Statement of Changes in Equity
For the Month Ended Oct. 31, 2015

Therese Ballada , Owners Equity 10/1/13


Add:Profit
Total
Less:Withdrawal
Therese Ballada , Owners Equity 10/31/13

2,501,008.67

655236.77
3,156,245.44
205,000.00

2,951,245.44

Kashato Shirt Company


Balance Sheet
Oct. 31, 2015

ASSETS
Current Assets
Cash
Petty Cash
Notes Receivable
Interest Receivable
Accounts Receivable
Allowance for Uncollectible Accounts
Merchandise Inventory
Supplies
Prepaid Insurance
Prepaid Rent
Total Current Assets
Non-current Assets
Furniture and Fixtures
Accum. Dep. - Furniture & Fixture
Equipment
Accum. Dep. - Equipment
Service Vehicle
Accum. Dep. - Service Vehicle
Rent Deposit
Utilities Deposit
Total Non-current Assets
Total Assets

876,653.66
16,000.00
33,600.00
134.40
165,760.00
700,360.00
9,500.00
10,000.00
100,000.00

676,000.00
735,000.00
410,000.00
150,000.00
18,500.00

LIABILITIES
Current Liabilities
Accounts Payable
SSS and EC Contribution Payable
Philhealth Contribution Payable
PAG-IBIG Contribution Payable
Withholding Tax Payable
Value Added Tax Payable
Total Liabilities
OWNERS EQUITY
Therese Ballada , Owners Equity 10/31/13
Total Liabilities and Owners Equity

pany

7,459.20

1,904,548.86

81,306.00
146,750.00
38,500.00

1,722,944.00
3,627,492.86

482,049.00
15,400.00
5,175.00
1,800.00
34,721.02

14,052.00
123,050.40
676,247.42

2951245.44
3,627,492.86

0.00

Kashato Shirts
Bank Reconciliation
31-Oct-15
Balance per book
Add: Note collected by bank
Adjusted book balance

Balance per Bank


Add: Deposit in Transit
Total
Less: Outstanding Checks
Check No. 81213
Check No. 81214
Check No. 81215
Adjusted bank balance

16,800.00
8,176.00
8,960.00

876,653.66

22,400.00
854,253.66

865,588.66
45,000.00

33,963.00
876,625.66

(22,372.00)

Kashato Shirt Company


Post closing Trial Balance
31-Oct-15

Cash
Petty Cash
Notes Receivable
Interest Receivable
Accounts Receivable
Allowance for Uncollectible Accounts
Merchandise Inventory
Supplies
Prepaid Insurance
Prepaid Rent
Furniture and Fixtures
Accum. Dep. - Furniture & Fixture
Equipment
Accum. Dep. - Equipment
Service Vehicle
Accum. Dep. - Service Vehicle
Rent Deposit
Utilities Deposit
Accounts Payable
SSS and EC Contribution Payable
Philhealth Contribution Payable
PAG-IBIG Contribution Payable
Withholding Tax Payable
Value Added Tax Payable
Therese Ballada , Owners Equity 10/31/13
Total

876,653.66

16,000.00
33,600.00
134.40
165,760.00
700,360.00

9,500.00
10,000.00
100,000.00
676,000.00
735,000.00
410,000.00
150,000.00
18,500.00

3,901,508.06

7,459.20

81,306.00
146,750.00
38,500.00

482,049.00
15,400.00
5,175.00
1,800.00
34,721.02

14,052.00

123,050.40
2951245.44

3,901,508.06

KASHATO SHIRTS
STATEMENT OF CASH FLOWS
For the month ended October 31, 2015

CASH FLOWS FROM OPERATING ACTIVITIES


Cash received from clients
Payments to suppliers
Payments to employess
Payments to office rent
Payments for maintenance
Payments to office rent
Payments for merchandise inventory
Net cash provided by (used in ) operating activities
CASH FLOWS FROM INVESTING ACTIVITIES
Payments to acquire service vehicle
Payments to acquire equipment
Payments to acquire equipment
Payments to acquire equipment
Net cash provided by (used in ) financing activities
CASH FLOWS FROM FINANCING ACTIVITIES
Cash received as investments by owner
Payments for withdrawals by owner
Net Increase in Cash
Cash balance 3/01/10
Cash balance 3/31/10

S
015

87808
26880

2688
1120